VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Naturally Splendid Enterprises Ltd. ("Naturally Splendid," “NSE” or “the Company”) (FRANKFURT: 50N ) (TSX-V: NSP ) (OTC:NSPDF) announces the engagement of Dr. Amin Janmohamed as its Qualified Person In Charge (“QPIC”) in the Company’s application to become a Licensed Dealer. Additionally, Dr. Janmohamed has been appointed to Naturally Splendid’s Advisory Board where his extensive medical research and formulation experience will be a significant asset to the Company as strategic plans continue to evolve and focus on the nutraceutical and therapeutic applications for cannabinoids such as CBD (cannabidiol) and THC (Tetrahydrocannabinol).
Dr. Janmohamed is a researcher, clinical program developer and drug formulator in the area of severe opioid use disorder. He is currently a researcher at CHEOS (Centre for Health Evaluation and Outcome Sciences) affiliated with Providence Health Care Research Institute and UBC Faculty of Medicine, and the CEO of Bixa Therapeutics Inc., Bixa Research Inc., and Bixa S.A. (Colombia). Dr. Janmohamed is a co-investigator in the SALOME clinical trial (Study to Access Long-term Opioid Medication). Dr. Janmohamed’s extensive expertise covers in study-drug formulations, regulations, drug development, manufacturing, security, and program development of controlled substances in clinical trials and clinical treatment. Dr. Janmohamed has been published in several medical publications. He holds a BSc (Pharm) from the University of British Columbia, and an MSc and PhD in Health Sciences from the Universidad Empresarial, Costa Rica.
Naturally Splendid CEO Mr. Douglas Mason states, “Engaging Dr. Janmohamed as our QPIC is a critical step towards Naturally Splendid becoming a Licensed Dealer in Canada. With his first-hand experience at obtaining and working under a Dealer’s License and his many years of research experience, he will be able to guide us through the process and provide invaluable insight. He has a wealth of history in the medical research and formulation field that will be invaluable on our Advisory Board as we pursue a number of activities related to cannabis and the extraction, formulation and distribution of cannabinoids.” Becoming a Licensed Dealer creates the opportunity for several revenue streams including CBD and THC as well as other cannabinoids derived from hemp or marijuana, as it relates to extraction, distillation, product development, manufacturing and marketing of cannabinoid fortified products. According to the Prime Minister’s office, regulatory laws in Canada pertaining to the extraction of CBD from industrial hemp are anticipated to be amended in the summer of 2018. Becoming a Licensed Dealer positions Naturally Splendid to be a supplier of cannabis extracts and cannabis extract fortified products as well as the ability to perform a number of additional services as identified below each in accordance with the Canadian regulatory regime.
The regulatory purpose for a Licensed Dealer is to enable legal possession of controlled substances such as CBD and THC for the following purposes:
1) Manufacturing 2) Packaging 3) Preparation of R&D Formulations for future manufacturing 4) Resale and distribution to other licensees, including pharmacies 5) Importing and exporting for global sales 6) Laboratory testing 7) Contract activities for any of the above activities
In consideration for Dr. Janmohamed’s engagement as Qualified Person in Charge, NSE will issue a total of 200,000 common shares of the Company (the “NSP Shares”) as follows:
(a) 50,000 NSP Shares on the date of TSX Venture Exchange acceptance of this Agreement (the “Exchange Approval Date”);
(b) 10,000 NSP Shares on the date that is two months after the Effective Date;
(c) 10,000 NSP Shares on the date that is three months after the Effective Date;
(d) 10,000 NSP Shares on the date that is four months after the Effective Date;
(e) 10,000 NSP Shares on the date that is five months after the Effective Date;
(f) 10,000 NSP Shares on the date that is six months after the Effective Date;
(g) 100,000 NSP Shares on the first anniversary of this Agreement.
In consideration of Dr. Janmohamed’s appointment to Naturally Splendid’s Advisory Board, he will be granted 100,000 stock options at an exercise price of $0.20.
The issuance of the shares to Dr. Janmohamed is subject to the acceptance of the TSX Venture Exchange.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a biotechnology and consumer products company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods, and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum of applications.
Naturally Splendid currently has four innovative divisions:
(1) BIOTECHNOLOGY – Focused on three major platforms:
- Proprietary HempOmega™ encapsulation
- Extraction and formulation with Cannabidiol (CBD)
- Hemp and plant-based proteins.
(2) CONSUMER PRODUCTS -
- NATERA® - brand of retail hemp and superfood products distributed throughout North America, Asia and Europe.
- Prosnack Natural Foods Inc. (Elevate Me™) - lifestyle brand of healthy meal replacement products distributed throughout North America.
- Chi Hemp Industries Incorporated (CHII) - e-commerce platform for natural and organic hemp products.
- PawsitiveFX® - topical pet care products.
- NATERA®CBD - retail hemp-based cannabinoid nutraceutical and cosmeceutical products distributed in Asia.
- NATERA®Skincare - brand of retail hemp based cosmeceutical products.
(3) NATERA® Ingredients - bulk ingredients including HempOmega™.
(4) Co-Packaging/Toll-Processing - packaging for house-brands (NATERA® and CHII) and third-party partners.
For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas Mason CEO, Director
Contact Information
Naturally Splendid Enterprises Ltd. (NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt) #108-19100 Airport Way Pitt Meadows, BC, V3Y 0E2 Office: (604) 465-0548 Fax: (604) 465-1128 E-mail: info@naturallysplendid.com Website: www.naturallysplendid.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Naturally Splendid cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Naturally Splendid's control including, Naturally Splendid's ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; the ability to complete the sales of all bulk hemp seed purchase orders; and the risk that any of the potential applications may not receive all required regulatory or legal approval. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Naturally Splendid undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
